Retail is one of the most competitive industries, one that is faced with a constant challenge of improving the customer experience every step of the way. Shaping up the customer journey and delivering highest levels of satisfaction to the customer and that too consistently is therefore the most important pursuits of every retailer.
Any smart retailer will concur with the fact that selling to an existing customer is far easier than putting in the time and effort in acquiring new ones. Having said that, both set of customers are vital to a retail business and improving the customer experience across every customer touch point must be an all-important objective. An interesting statistic emerges out of the United States that reinforces the importance of customer experience. The estimated cost of customers switching due to poor service in the U.S. is $1.6 trillion, as per the 11th annual Accenture Global Consumer Pulse Survey that measured the experience of 24, 489 customers in 33 countries.
Are you ready to take your product merchandising to the next level and deliver an unmatched CX to your customers?
If yes, you must move beyond the traditional means of collecting data and empower your store managers with retail store software, one that can be used to track and report the various important aspects of your retail store execution strategies.
In-store Retail Execution Challenges
Some of the biggest challenges of in-store execution include the following:
Managing Stock Availability: Retail execution software can help store managers effectively monitor consumer preferences around products, track slow moving and fast-selling products, and in turn help in the planning of SKUs for optimal results.
Eliminating Errors: Eliminate inefficiencies in store operations because of paper-based data collection can go a long way in improving the customer experience and loyalty with a brand.
Improving Efficiency: Employees can spend time on most important tasks and follow a vision based on analysis of real-time data.
Maintaining Brand Standards: By acting upon real-time data viewed on mobile retail merchandising software, decision-makers can ensure the in-store experience for the customers is always top notch and in adherence to the defined brand standards.
Compliance Reports: Store Managers can now measure and publish compliance reports in real-time using retail store software and share it with zonal/regional heads so that the right decisions can flow in fast.
Conclusion
Retail businesses, large or small, have started taking big strides towards overhauling the in-store experience. It is no hidden secret that companies that excel at improving the CX are the ones who end up improving their revenues. So, the next time your customer experiences an empty shelf or finds a product under promotion missing, think hard about the long-term impact that can have on your business.
The mere integration of retail execution software can improve the sales effectiveness of your retail business, be that game-changing decision that can help you steer ahead of competition and help you stay profitable in the highly competitive retail industry. Are you ready to make this important investment?